Balance Transfer Calculator
Compare your current loan EMI with the best bank rates. See how much you save by transferring your home loan or LAP to a lower-rate lender.
Current EMI
₹36,548
New EMI
₹33,955
EMI Savings/mo
₹2,593
Total Savings
₹4.67 L
Processing Fee
₹17,500
Net Savings
₹4.49 L
Break-even
7 months
Current Total
₹65.79 L
Bank-wise Comparison (Home Loan)
| Bank | Rate | New EMI | Monthly Saving |
|---|---|---|---|
| SBI | 8.25% | ₹33,955 | ₹2,593 |
| Bank of Baroda | 8.3% | ₹34,057 | ₹2,491 |
| PNB | 8.4% | ₹34,261 | ₹2,287 |
| HDFC | 8.5% | ₹34,466 | ₹2,082 |
| ICICI | 8.55% | ₹34,569 | ₹1,979 |
| Axis | 8.6% | ₹34,671 | ₹1,877 |
Pro Tips
- - Ask for a pre-closure certificate and NOC from your current bank
- - Some banks waive the processing fee for balance transfers
- - CIBIL score 750+ qualifies for the lowest rate tier
- - Combine BT with a top-up loan to fund renovation or interiors
- - Prepayment penalty (if any) from the old bank adds to switching cost
Balance transfer savings — net of common switching costs
This calculation is an indicative estimate based on the inputs provided and standard market formulas. Actual loan terms, eligibility, interest rates, processing fees, taxes and total cost will vary by lender, your credit profile, employer category, property type, location and prevailing RBI / bank policies on the day of disbursal.
The savings calculation only includes the processing fee on the new loan. It does not include foreclosure penalty (RBI bans this for floating-rate home loans but other loan types may charge it), stamp duty on the new MOD / loan agreement, legal-search-vetting fees, valuation fees, or franking charges. Always request a written cost-comparison sheet from both banks before switching.
Before making any borrowing or property-purchase decision, please verify the final numbers with your bank, a SEBI-registered financial advisor, or a qualified Chartered Accountant. GrehYug is not a financial intermediary and does not earn commission on any loan or property transaction.
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